First Trust Advisors LP Buys Shares of 303,214 Energy Transfer LP Unit (NYSE:ET)

First Trust Advisors LP bought a new position in Energy Transfer LP Unit (NYSE:ET) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 303,214 shares of the pipeline company’s stock, valued at approximately $4,660,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Noesis Capital Mangement Corp bought a new position in Energy Transfer LP Unit in the 1st quarter valued at about $256,000. Wetherby Asset Management Inc. bought a new position in shares of Energy Transfer LP Unit during the first quarter worth approximately $236,000. Good Life Advisors LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter worth approximately $162,000. Rational Advisors LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter worth approximately $55,000. Finally, Berman Capital Advisors LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter worth approximately $504,000. 57.11% of the stock is owned by hedge funds and other institutional investors.

NYSE ET opened at $14.32 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52. The company has a market cap of $37.33 billion, a P/E ratio of 12.45 and a beta of 1.64. Energy Transfer LP Unit has a 1 year low of $11.68 and a 1 year high of $19.19.

Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $13.12 billion for the quarter, compared to analyst estimates of $14.39 billion. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP Unit will post 1.37 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Tuesday, May 7th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.22 annualized dividend and a dividend yield of 8.52%. Energy Transfer LP Unit’s dividend payout ratio is 106.09%.

Several research analysts have recently commented on ET shares. Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Raymond James raised shares of Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, April 16th. Citigroup raised their target price on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a report on Wednesday, May 8th. ValuEngine cut shares of Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Finally, TheStreet raised shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.25.

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Energy Transfer LP Unit Profile

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

Further Reading: Sell-Side Analysts

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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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